- By Sagar Shere February 18, 2020
Coronavirus is strangling thousand to death and now it has started impacting the shipping industry. Bangladesh’s economy is affected and there is a drastic slowdown in the economy due to coronavirus. In February only two ships have arrived at Chittagong from China. The garment industry is also heavily impacted by the Coronavirus because the stock ingredient required for the production of leather goods are mostly imported from China. The required ingredients are running dry and slowly the ointment and ceramics industry is also feeling the strain due to coronavirus.
The supply chain is the major driving force for Bangladesh and if it remains disrupted throughout Feb-March then almost 8% garment factories and workshops will be closed. Power industry of the country may be considered as most affected – most or all power stations, in work and under construction, heavily depend on China suppliers, so if China remains in virus stall for some months to come, the Bangladeshi power sector will have to look for new suppliers elsewhere.
Anchorages at biggest ports shipping ores and coal throughout the world are something awful to look at, because of a number of anchored bulk carriers, idled by the Chinese economic slowdown. Chinese ports handling bulk cargoes, technically, are the least affected by virus, it’s deeper than that – Chinese industry is about as good, as paralyzed, so China has no other options left, except drastic reduce in ores/coals import volumes.